Servicing

HSBC North America Holdings has agreed to pay $470 million to settle allegations it engaged in abusive practices in its mortgage foreclosure, origination and servicing operations.

Genworth's U.S. mortgage insurance business earned $179 million in 2015, but the parent company lost $615 million as it still has problems with its long-term care insurance product.

Mortgage professional hiring and new job appointments for the week ending Feb. 5.

Computershare has agreed to acquire Capital Markets Cooperative for $71.2 million.

The rate of home price recovery during the seven years that a foreclosure remains on a consumer's credit report is one measure of whether borrowers who strategically defaulted made the right choice by walking away. But the results vary, depending on when, where and in what price tier that borrowers defaulted.

Borrowers who walked away from underwater mortgages are coming back to the market. Some lenders are ready to give them a second chance.

After years of refi-fueled origination volume, lenders have their hopes pegged to a resurgent purchase market in 2016 and beyond. But it raises an important question: will strategic default rear its head again in the next downturn?

Chronos Solutions in Coppell, Texas, has acquired Commerce Title & Closing Services.

Opus Capital Markets Consultants, a unit of Wipro, has created a division for identifying operational and loan-level risks within a residential mortgage servicing operation.

Freddie Mac has taken out another reinsurance policy that transfers risk of default on mortgages it insures.